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Articles of association:
The articles of association cannot absolve the auditors from any obligation imposed upon them by the statute.... Under the statute the members of the company are entitled to have the safeguard of an expression of opinion of the auditors to the effect, first, that the balance sheet and which is properly drawn up so as to exhibit a true and correct view of the state of the company's affairs.
The words "as shown by the books of the company" seem to me to be introduced to relieve the auditors from any responsibility as to affairs of the company kept out of the books and concealed from them there, but still not to confine it to a mere statement of the correspondence of the balance sheet with entries in the books. A full and fair balance sheet must be such a balance sheet as to convey any known causes of weakness in the financial position, or suggest anything which cannot be supported as fairly correct in a business point of view."
Contingent and prospective liabilities of the company: A creditor who petitions on grounds of the company's insolvency may rely on any of the following situations to show (as
PROOF OF DEBTS: Many of the rules of bankruptcy apply to the discharge of the company's debts: s.310. The liquidator must obviously requ
In a business context, there are thousands of legal claims that happen frequently in a company's course of operations. Frequently, the management team must come to together to veri
phoenix activity involves "the evasion of tax and other liabilities, such as employee entitlements, through the deliberate, systematic and sometimes cyclic liquidation of related c
Group Accounts: Section 150 requires a company which has subsidiaries to lay before the company in general meeting accounts or statements dealing with the state of affairs an
i want to know the complete history of business.
Liability: The secretary is an officer of the company and thus he owes fiduciary duties to the company which are similar to those of a director, eg. he must act in
Explain UNCTOC UNCTOC identified the concept of an organized crime. A crime is termed as an "Organized Crime" when people in different countries and/or of different national
Personal rights invaded: A shareholder may sue to protect from invasion their own individual rights as members. This is illustrated by Pender v Lushington
REGULATIONS REGARDING HAZARDOUS SUBSTANCES A hazardous substance has the potential to harm. It may cause harm to human beings, other living creatures, plants, microorganisms, p
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